Upward pressure likely to continue with a slight short term dip.
In the Mid Term group of TFs (1d, 2d, 3d, 4d)
The Green MA is higher than the Energy in all TFs, The Red RSI is significantly above 50. We know that when the Red RSI has closed above 50 we are unlikely to see a reversal to downward pressure until the Energy falls below 50. Currently Energy in the 4d is at 67. However because of how high the Red RSI and the Green MA are in these TFs (above 80) we do stand a risk of exhastion, but we should have good warning before any risk of reversal.
In the Short Term group of TFs (90m, 3h, 6h, 12h)
The Green is higher than the Energy and the Red RSI is above 50 in all TFs which indicates bullish sentiment. However in all TFs the Red RSI has made contact with the Green as it falls indicating a period of downward pressure. From what we can see in the higher TFs, in my opinion this will be a short period of downward pressure and upward pressure will resume.
In the 90m the Green is very close to 50 and looks as though it may well close below 50 in the next candle and because we closed last candle with the Red RSI making contact with the Green MA, the Energy is likely to fall below 50. As long as the Red RSI in the 90 doesnt turn down and fall below 50 the price actioin is unlikely to fall below the BB Basis (Currently $13.35). In the 3h we have also closed with the Red RSI making contact with the Green MA as it falls, the Green is heading down toward 50, if it does close below, as long as the Red RSI doesnt cross below 50 the price action is unlikely to fall below the BB basis in this TF too (Currently $12.63)
In the 6h and 12h, as the Red RSI is above 80, if the Green crosses below 50, it is unlikely that the price action will fall to the proximity of the Bollinger Band basis.
So, in conclusion.
In my opinion we may see a small dip to around $12.63 - $13.35. After which we should resume upward pressure.
Upward pressure for now set to continue.
Please note:
This is not financial advice but just an overview of current market dynamics.
If you got value from this publication please hit the like button
Trade safe
aBL
The Green MA is higher than the Energy in all TFs, The Red RSI is significantly above 50. We know that when the Red RSI has closed above 50 we are unlikely to see a reversal to downward pressure until the Energy falls below 50. Currently Energy in the 4d is at 67. However because of how high the Red RSI and the Green MA are in these TFs (above 80) we do stand a risk of exhastion, but we should have good warning before any risk of reversal.
In the Short Term group of TFs (90m, 3h, 6h, 12h)
The Green is higher than the Energy and the Red RSI is above 50 in all TFs which indicates bullish sentiment. However in all TFs the Red RSI has made contact with the Green as it falls indicating a period of downward pressure. From what we can see in the higher TFs, in my opinion this will be a short period of downward pressure and upward pressure will resume.
In the 90m the Green is very close to 50 and looks as though it may well close below 50 in the next candle and because we closed last candle with the Red RSI making contact with the Green MA, the Energy is likely to fall below 50. As long as the Red RSI in the 90 doesnt turn down and fall below 50 the price actioin is unlikely to fall below the BB Basis (Currently $13.35). In the 3h we have also closed with the Red RSI making contact with the Green MA as it falls, the Green is heading down toward 50, if it does close below, as long as the Red RSI doesnt cross below 50 the price action is unlikely to fall below the BB basis in this TF too (Currently $12.63)
In the 6h and 12h, as the Red RSI is above 80, if the Green crosses below 50, it is unlikely that the price action will fall to the proximity of the Bollinger Band basis.
So, in conclusion.
In my opinion we may see a small dip to around $12.63 - $13.35. After which we should resume upward pressure.
Upward pressure for now set to continue.
Please note:
This is not financial advice but just an overview of current market dynamics.
If you got value from this publication please hit the like button
Trade safe
aBL
บันทึก
Near Term Timeframesบันทึก
I accidentally posted in comments about 3 hours ago - this should have been an updatee are seeing a bit of downward pressure now.
As the Red RSI crossed below 50 in the 90m a downward pressure race has been triggered. In order to see a resumption of upward pressure, we need to see the Energy in the 90m CLOSE above 50 before the Red RSI in the 3h CROSSES below 50.
We then want confirmation which is given by seeing the Green above the Energy in the 45m, 23m & 12m. The Red RSI in the 6h has made contact with the Green as it falls indicating downward pressure, as a result we have seen the Energy cross below 50. The Green is heading down to 50 and if it closes below 50 we are likely to see the price action fall to within proximity of the Bollinger Band basis (the yellow dotted line). As the basis is rising this is likely to be at around $13.
In the 6m we have closed with the Red RSI making contact with the Green as it rises, the next candle should see the Energy rise above 50. But as the Energy is higher than the Green on all the scalping group of TFs we are likely to see a lower high (6m. 12m, 23m, 45m) in the 45m.
The Green remains higher than the Energy in the near term group of TFs (1d, 2d, 3d, 4d) indicating upward pressure in these TFs. As previously suggested, the current period of downward pressure is likely to be short in my opinion.
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In the 90, the Red RSI is making contact with the Green as the Green rises. If we can close like this we are likely to see the Energy cross above 50 in the next candle. This would be bullish. The Green also seems as it is trying to get higher than the Energy.We are still in a race between the Energy in the 90m and the Red RSI in the 3h. The Green is beginning to turn up and the Green is higher than the Energy. If it can continue like this and the Red RSI and Blue LSMA also turn up, we are likely to see a higher high in this timeframe. However, if not, the Red RSI & the Blue LSMA in the 3h are dangerously close to crossing below 50. If they do, we could potentially see the price action dropping to the Aqua/Orange BBs as they expand. I beleive this is a less likely scenario..
I will keep an eye on this and try to update
Trade safe
aBL
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Just a quick update as am home schooling my son - so very brief perusal....The Energy in the 90m won the race conclusively.
As suspected, the Red RSI & Blue LSMA appear to be starting to turn up in the 3h.
Although the Energy won the race, the Energy is higher than the Green in some of the lower TFs.
But from what I can see, in my opinion we are resuming upward pressure.
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In the 3h we are at risk of the price action falling to the White/Aqua lower BBs if the Red RSI continues down, it is at a critical level now at pretty much bang on 50 (50.2577). The Green has turned back down and if we close in 2 hours and 35 minutes with the Red RSI making contact with the Green, the Energy will turn back down. The Blue LSMA is also making its way down toward 50. We need to keep an eye on this too as if it falls below 50 the BBs can expand and the price can go lower - between Aqua/Orange BBs. We will also have a downward pressure race between the Energy in the 3h and the Red RSI in the 6h.บันทึก
Looking good againRed RSI in 3h is back above 50 and is making contact with the Green as it rises. If it closes like this in just over 15 minutes this is a good sign, we really want to see the Red RSI turn back up in this timeframe. If we close as we are, we have a good chance of making a higher high.
Green is higher than Energy in most short term TFs which is bullish.
We also remain bullish in all near term TFs
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In my last update, I said we wanted to see the Red RSI turn back up in the 3h. If you compare the chart above with this one, you will see this is exactly what happened. The level of the Green and Energy in the 3h is close, if the Green can get higher than the Energy we stand a good chance of a higher high.We are losing a bit of value against BTC, things can change quite quickly with sudden moves from BTC but for now we are still bullish. The near term TFs are still looking good too...
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The Green is higher than the Energy and the Red RSI is higher than 56 in all the scalping group timeframes. This indicates bullish sentiment. The Blue LSMA in the 23m has crossed above 50 and as a result the BBs are beginning to expand, The price action should move with the candle bodies mostly between the upper Aqua/Orange Bollinger Bands and can wick up to the Red upper.Short Term group of timefames. (90m, 3h, 6h, 12h)
The Green is higher than the Energy in all the short term group of timeframes indicating bullish sentiment. The Red RSI is also above 56 in this group of timeframes indicating upward pressure. The Red RSI has closed making contact with the Green as it rises in the 90 and is turning up as is the Blue LSMA, we are likely to see the price action sit between the upper Aqua/Orange BBs in this TF. We have also closed in the 6h & the 12h with the Red RSI making contact with the Green MA as it rises indicating upward pressure.
Near Term group of timeframes. (1d, 2d, 3d, 4d)
Again the Green is higher than the Energy in all timeframes in this goup indicating bullish sentiment. The Red RSI has made contact with the Green as it falls in the daily and has closed like this. This could potentially mean a period of downward pressure in this timeframe, however, from what I can see in the higher timeframes in this group, with the Red RSI closing making contact with the Green as it rises, I suspect that we will see the Green turn up in the Daily.
Bear in mind that downward pressure doesnt necessarily in itself mean downward price action - but rather that the price will go sideways within a trading range at best and downwards at worst.
In the near term I dont see any indication for a significant dip in prica action.
To summarise, in my opinion we are likely to see a continuation of upward pressure in the near term. As you can see in the 3d & 4d we are running out of information to look at higher timeframes due to the newness of this coin.
This analysis represents my opinion of market dynamic in these timeframes and does not represent financial advice.
Please also bear in mind that when we see reversals from upward to downward pressure or vice versa, this will originate in the scalping group of timeframes and propogate upwards. In order to catch these movements one needs to regularly monitor these lowere timeframes.
I don't have time to provide regular updates in order to identify optimal entries and exits.
If you got some value from this analysis please hit the like button
Trade safe
aBL
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